Insurance for Aftermarket

[Belo]

So I was talking to my buddies gf who works for geico and she told me if my car gets in wrecked and what not i'm not covered for my aftermarket parts unless they're listed, so i went in to add my stereo, catback, intake, hids and exhaust ~ $4k in parts and my premium went up about $100 a year.

Am I better off not insuring some of this stuff? Thoughts?

[travis gore]

$100 a year for 4k does not sound to bad to me. no items listed can be replaced for $100

[Belo]

I know, i guess i'm just a cheap bastard. I guess i just consider what I could get with the $100...

[Mier]

I should do that if it only costs 100 per year more that's not so bad to cover the mods.

[WickedMom]

I wonder how much to cover a supercharger... I wonder if they would just drop me...

[Belo]

I wonder how much to cover a supercharger... I wonder if they would just drop me...

i think they look at it by dollars, not mod. there's not even a spot for most things, just a bunch of blank spots for "other".

[TooManyHobbies]

I wonder how much to cover a supercharger... I wonder if they would just drop me...

This scares me.

[I12XLR8]

I'd say to do it - now that I know how little it costs you I will do the same once I have some mods worth insuring.

[Adam]

$100 a year for 4k does not sound to bad to me. no items listed can be replaced for $100

X2

[BATOYGIO]

If for example your cat-back needs to be replaced though wouldn't they give the money for the stock cat-back (thinking that's what was under your car and was destroyed) which is more expensive anyway, and then from there you can use it to order a new aftermarket one?

So if you just replace parts with aftermarket, as long as the new part isn't a lot more expensive than the stock one shouldn't you be OK?

[TonyKarter]

Insurance agent here...DEFINITELY insure for all additional equipment. My companies (I rep for 16 auto companies) do not ask what the addnl equipment is, only what value to add as additional equipment.

[christiancoach]

what how much they would want additionally to cover my car????????????

[GXPaycheck]

I always thought that stuff could be covered as "personal items".

[TonyKarter]

Personal item loss is covered by your homeowner policy in Texas, subject to low limits as it is off property loss of personal property, and subject to your HO deductible. It may be different in your state. Cover it on the auto policy, do it right, and you won't have a large Homeowner policy deductible to cover. If I remember right, automotive parts are in the exclusion section of the HO policy too. Along with a lot of other stuff I own.

[MongosG8]

My mother (RIP) worked in the Insurance business for almost 40 years as an agent for Travelers, The Hartford & Liberty Mutual and she recommended back in the day when I had modded my other cars to add additional insurance.
Their payout sucked though because they never give you market value for what your parts are worth.

In CT insurance companies are looked at as "Legal Mafia" They will FK you no matter what. Just bend over and lube it up good before you call them for any claim.

Connecticut, New York & New Jersey the insurance rates are pathetic so expect that 100 dollars a year extra that was mentioned to be 300-500 more in our locations.

[Mier]

In CT insurance companies are looked at as "Legal Mafia" They will FK you no matter what. Just bend over and lube it up good before you call them for any claim.

Connecticut, New York & New Jersey the insurance rates are pathetic so expect that 100 dollars a year extra that was mentioned to be 300-500 more in our locations.

*nelson* HA HA

I would invite you to Texas but I have enough damn yankees and carpetbaggers here already. SOBs are coming to screw my state up after they ruined theirs, I'm going to contemplate a stalinesque purge.

[MongosG8]

^^^ LMAO!!

I couldn't blame you!

[Adam]

If for example your cat-back needs to be replaced though wouldn't they give the money for the stock cat-back (thinking that's what was under your car and was destroyed) which is more expensive anyway, and then from there you can use it to order a new aftermarket one?
So if you just replace parts with aftermarket, as long as the new part isn't a lot more expensive than the stock one shouldn't you be OK?

I know a lot about this. Since I build show cars for SEMA and other National Events, I can tell you a ton about this first hand. The main deal would be if the car ended up being totaled. Depending on where you live and what insurance company you have it could mean a number of different things. It is really a numbers game. Sometimes 42% of the trade in/auction value in damage can total out a car IE: $8400 in damage can total out a $20,000 car. Some have higher standards, all the way up to around 55% so $11,000 on that same $20,000 car (also based on cars age and a number of other different ratios like replacement parts costs for that type of vehicle).

Aftermarket insurance holds a 100% value for a number of years before depreciating. So a $7000 supercharger adds that much to the value of the vehicle. Wether the car is stolen, vandalized, or wrecked. It may not allow the car to be salvaged (60K in parts on a 8K '88 Corvette they are not going to try and pay nearly 30k to fix it. The difference is the payout. Do they cut a check for 8k or 68k) but you will also get your money back. "Stock parts" are in the value of the totaled out vehicle. So that same 20k car could have 15k in recent aftermarket parts **Must have proof and receipts**. You total it out and they could write a check to you for 20k or 35k on the same car. This is the biggest deal. Not really your $500 deductible claim where it makes the biggest difference IE: "fender bender".

Yes it will cost a premium, but paying an extra $500 a year could get you a check cut for an additional $18,000 if something major happens to the car that becomes a total loss.


I had my car fall off a delivery truck ramp. It was being offloaded at SEMA. Wheel came off the ramp crushing the exhaust, screwing up the frame, breaking the ground effect, messing up some suspension, crimping brake lines, and destroying the under car lighting. The trucking company was going to get it back to "stock" condition which would leave me out of a ton in parts costs. Then with just the frame fixes and such they wanted to cut me a full loss check based on what a "stock" version of this vehicle would sell for. When I could prove the parts value and my insurance made them aware of the above, they had to fix it and replace the aftermarket work. Now my insurance company asked me if I wanted to take the catastrophic loss for the higher value on it or did I want it fixed and we went from there. We got it fixed. This is when something like parts insurance REALLY comes in handy.

[jeppsG8]

Great information Adam. I fully concur. My truck was broken into a couple of years ago and there was nearly $8k in damage and loss to aftermarket equipment. Because I had listed it in my insurance, and had the receipts, I got enough to cover the actual receipt value of the equipment.

Bottom line, get the insurance and read your policy very carefully to understand it.

[Napalm]

Nationwide will just add an addendum to your policy increasing the base value of your car. For example I told them I had another 3K installed on my GTO. They asked for reciepts for proof, then asked a bit about who did the install (as I did almost all of it).

But reciepts for items, totaled up added 3K to my car. When I added more, I would send my agent the reciept and ask for another estimation report. problem solved. When it was totaled, they totaled it based on the value un modded, then added to my settlement the modded cost value.

Reasoning I was told was that the repairs involved have nothing to do with the mods (and this was true in my book) so they made their recommendation based purely on the base value cost.

I have yet to do the same on the 8, but I have just had it 3 months now.

[nonexistent]

For the owners who changed their front ends to the VE/GTS, how would they go about talking to their insurance companies? Do they just mention that they changed out the hood and bumper covers? Give them part numbers? As far as receipts go, it'd basically be a paypal receipt, right?

If and when a collision does happen, I guess the adjuster should already know that the hood is no longer the Pontiac hood but rather a Holden hood, right?

[Belo]

thanks for the insight guys. i'm going to keep the insurance. makes sense i think.

[Adam]

For the owners who changed their front ends to the VE/GTS, how would they go about talking to their insurance companies? Do they just mention that they changed out the hood and bumper covers? Give them part numbers? As far as receipts go, it'd basically be a paypal receipt, right?

If and when a collision does happen, I guess the adjuster should already know that the hood is no longer the Pontiac hood but rather a Holden hood, right?

If you don't pay for it in aftermarket parts insurance then they would replace it with the hood and bumper attached to that VIN number IE: GT Parts. Take a pic of that hood and bumper in good condition. Use todays newspaper in the shots so they know a real time stamp. Ptint the pics and put it on file. If you have a paypal slip, print it and staple it all together. The more proof you have the easier the entire process would go if you ever have to use it. My Grand Am had to have pics sent into the insurance company since the door skins were the only thing on the outside that was factory. Fenders, hood, bumpers, rear quarters, trunk, spoiler, ground effects... were all aftermarket or custom fabricated by me. Since it was a whole car conversion, they needed proof on file.

[christiancoach]

I am worried about the value of my motor!
Also, the front clip. And as I just learned the hard way, aftermarket (discontinued) wheels are a pain. The only saviour is that GM prices stock wheels crazy high!

[mi04se1]

If you don't pay for it in aftermarket parts insurance then they would replace it with the hood and bumper attached to that VIN number IE: GT Parts. Take a pic of that hood and bumper in good condition. Use todays newspaper in the shots so they know a real time stamp. Ptint the pics and put it on file. If you have a paypal slip, print it and staple it all together. The more proof you have the easier the entire process would go if you ever have to use it. My Grand Am had to have pics sent into the insurance company since the door skins were the only thing on the outside that was factory. Fenders, hood, bumpers, rear quarters, trunk, spoiler, ground effects... were all aftermarket or custom fabricated by me. Since it was a whole car conversion, they needed proof on file.

I was in an accident a couple winters ago when I had the GT fascia. I asked the bodyshop estimater if I could get the GXP fascia and he said no problem.

[Adam]

I was in an accident a couple winters ago when I had the GT fascia. I asked the bodyshop estimater if I could get the GXP fascia and he said no problem.

That could easily be correct with a cool estimator. You were lucky. But I guess he was willing to do GM G8 part for GM G8 part. I doubt he had a list of SSV parts in his system. And if you had an aftermarket body kit, you would be hard pressed to get that body panel back.

They typically like to replace with used parts too. Insurance companies normally have a number of nationwide salvage yards they own. They will take a totaled out rear end G8 that they can salvage and put it on their lot. It may have front doors forward in good shape, waiting for other wrecked, front end repairable G8s. You have to pitch a b!tch to get new normally if they can get used. The yards waste so much, like they will not normally use seats, dashes, wheels... And send it to the crusher to get paid on tonnage. I just wish I had access to those lots. I could make a killing on good parts.

[iisme13]

*nelson* HA HA

I would invite you to Texas but I have enough damn yankees and carpetbaggers here already. SOBs are coming to screw my state up after they ruined theirs, I'm going to contemplate a stalinesque purge.

And plus I can't stand anyone that's a Yankees fan.

[MongosG8]

And plus I can't stand anyone that's a Yankees fan.

Believe me ..I wont lose any sleep over it ;)

Not sure if this gives me any points with you Texas folk ..but I am a huge Cowboy fan and being a Dallas fan ..I get the same response from people that live up in these neck of the woods.

I respect the Rangers & the Red Sox .. so that makes me a different kind of Yankee Fan ..I enjoy the game

[odoprelude]

USAA includes up to $5k in aftermarket parts automatically. Any more and you can add additional coverage.